After a period of reduction in net earnings, mass layoffs and freezing of dividends in 2020, Kenyan lenders have suddenly bounced back amid modest growth in revenues and reduction in operating expenses. So far six top tier banks which have published their financial performance figures for the 12 months to December 31, posting on average […]
banks Kenya’s regional bank Equity Bank plans to tap into the growing Chinese business community in East and Central Africa in order to boost its revenues. James Mwangi, the chief executive officer of Equity Bank, said in Nairobi, the capital of Kenya, that the commercial lender has developed a Chinese desk due to the significance […]
The CEO of KCB Group Joshua Oigara and Equity Group’s James Mwangi. FILE PHOTOS | NMG KCB acquired Banque Populaire du Rwanda (BPR) in June last year from London-listed financial services firm Atlas Mara Limited, eyeing a larger footprint in retail banking in the country. Equity on its part bought a 66.53 percent stake in […]
The families of Jomo Kenyatta, former Central Bank of Kenya Governor Philip Ndegwa and Equity Group chief executive James Mwangi will pocket Sh1.62 billion in the wake of record banking profits that have delivered outsize shareholder payouts. The Kenyattas lead the pack with a payout of Sh652.5 million from their 13.2 percent stake in NCBA […]
Rwanda and the Democratic Republic of Congo (DRC) were the most profitable regional subsidiaries for KCB Group #ticker:KCB and Equity Group #ticker:EQTY respectively in 2021, revealing the benefits of acquisitions they made in those countries. KCB acquired Banque Populaire du Rwanda (BPR) in June last year from London-listed financial services firm Atlas Mara Limited, eyeing […]
Equity Group CEO James Mwangi during the announcement of financial results for 2021 in Nairobi on March 22, 2022. PHOTO | DIANA NGILA | NMG Kenya’s biggest bank Equity Group nearly doubled its net profit for the year ended December 31, 2021, on account of a more than fivefold reduction in loan loss provisions and […]
Telecommunication firms Safaricom #ticker:SCOM and Airtel are among the most loved brands by women in Kenya, a new survey shows. The survey by IPSOS, which interviewed 13 million women from across the country, places Safaricom’s M-Pesa at number two indicating how the money transfer platform has become entrenched in the country. The study placed Equity […]
The Central Bank of Kenya has begun approving lenders’ applications to increase the cost of loans based on customer risks, setting the stage for expensive credit for small traders and workers in the informal sector. Equity Bank is the first lender to publicly reveal that the CBK has approved the risk element in its lending […]
Officials pose for a group photo as Equity Bank launches its online payment gateway in Kigali on March 18, 2022. All Photos by Dan Nsengiyumva Equity Bank Rwanda on Friday, March 18, unveiled its first online payment gateway, as the lender strives to remain the customers’ bank of choice. Powered by VISA, the dynamic platform […]
Equity Bank has won two awards at the Visa Awards 2021, that is the Visa Top Acquiring Award and the Visa E-Commerce (Acquiring) Award. The two awards from Visa were issued to the Bank for leading in Visa acquired volumes, significantly growing its E-Commerce volumes, and leading in E-Commerce payment volumes. Equity grew its acquiring […]
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